Tax season is approaching, but for many businesses, managing taxes can be a yearlong undertaking. In fact, there are many different types of deadlines you should be aware of throughout the year.
Here are the most important tax dates for businesses to know in 2019.
1099 mailing deadline, Jan 31
If your business works with any contractors, be sure to get their 1099 forms in the mail by the end of January. They must be postmarked or electronically filed by this date.
W-2 mailing deadline, Jan. 31
This is also the deadline for W-2 forms for traditional employees. They don’t need to actually have the forms in hand by this date, but they must at least be submitted and mailed.
S-corp and partnership tax filing deadline, March 15
If you have an S-Corp or partnership, this is the deadline for filing and submitting payment for your 2018 tax return. This is also the deadline to file for an extension if necessary.
Individual income tax filing deadline, April 15
This is the deadline for all individuals to file their personal tax returns, which also applies for most business owners. This is also the day that payment must be submitted.
Sole proprietor, LLC, corporation tax filing deadline, April 15
More specifically, sole proprietors, LLCs and C-Corps must all file their business taxes on this date. This is also the deadline for filing an extension if necessary.
Estimated quarterly income tax payments due for Q1 2019, April 15
If you’re self-employed or do not pay income taxes through withholding, this is also the deadline for your first estimated quarterly tax payment of 2019.
SEP contribution deadline, April 15
SEP stands for Simple Employee Pension, and it is a retirement account for self-employed individuals. If you have one of these accounts or would like to start one, you must do so by your filing deadline in order for the contributions to count on that year’s return. So, for most entrepreneurs in 2019, the deadline is April 15.
IRA contribution deadline, April 15
This is also the deadline for any IRA contributions to count toward your tax return for 2018. Any contributions made after you file will simply count for the following year’s return. This applies for both traditional and Roth IRA accounts.
Estimated quarterly income tax payments due for Q2 2019, June 15
For those who pay estimated quarterly taxes, the deadline for Quarter 2’s payment is June 15.
Estimated quarterly income tax payments due for Q3 2019, Sept. 16
Sept. 15 is the normal deadline for Quarter 3 estimated tax payments, but that falls on a Sunday in 2019. So, the deadline this year is Sept. 16.
Extension deadline for S-Corps and partnerships, Sept. 16
If you received an extension for your S-Corp or partnership tax return, this is the updated deadline for submitting your return and payment.
Extension deadline for individuals, sole proprietors, LLCs and corporations, Oct. 15
If you received an extension for your individual, sole proprietor, LLC, or C-Corp tax return, this is the updated deadline for submitting your return and payment.
401(k) deadline, Dec. 31
If you would like to contribute to a 401(k), either for yourself or your employees, the account must be created and funded by the end of the year. Any contributions you want to count for 2019 must be made by December 31.
Estimated quarterly income tax payments due for Q4 2019, Jan. 15, 2020
For self-employed or quarterly tax payers, your fourth quarter payment isn’t due until 2020.